1 Morningstar, as of 12/31/2017. Post-tax comparison between the 3, 5 and 10 year returns at NAV of the iShares Core ETFs and the oldest share class of active open-end mutual funds within the same Morningstar categories as the iShares Core ETFs. Mutual funds are generally more tax inefficient than ETFs and, as a result, are typically more negatively impacted than ETFs when comparing performance based on post-tax returns rather than total returns. The number of ETFs and mutual funds used for each period varies based on the inception date of the iShares Core ETFs. iShares Core ETFs included in this comparison vary based on the time period analyzed: 3 year (18 Core ETFs existed for the full 3-year period beginning 1/1/15); 5 year (14 Core ETFs existed for the full 5-year period beginning 1/1/13); and 10 year (8 Core ETFs existed for the full 10-year period beginning 1/1/08). iShares Core ETFs outperformed their active mutual fund peers by 84% (1752/2085), 79% (1062/1348) and 89% (498/558) over the 3, 5 and 10 year periods ended 12/31/17, respectively. Performance was averaged for Morningstar categories containing more than one iShares fund, and may be different for other time periods. Returns are calculated after taxes on distributions, including capital gains and dividends, assuming the highest federal tax rate for each type of distribution in effect at the time of the distribution. Past performance is no guarantee of future results. Review the differences between iShares ETFs and mutual funds for more information.

2 Blackrock, as of 12/31/17. Based on 830 ETFs and $1.75 trillion in assets under management globally.

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares Fund and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Transactions in shares of ETFs will result in brokerage commissions and will generate tax consequences. All regulated investment companies are obliged to distribute portfolio gains to shareholders.

Investment comparisons are for illustrative purposes only. To better understand the similarities and differences between investments, including investment objectives, risks, fees and expenses, it is important to read the products' prospectuses.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").